Ionis Pharmaceuticals, Inc. (NASDAQ:IONS) Position Raised by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. raised its position in Ionis Pharmaceuticals, Inc. (NASDAQ:IONS - Free Report) by 13.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 650,779 shares of the company's stock after purchasing an additional 77,909 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.41% of Ionis Pharmaceuticals worth $26,070,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Ionis Pharmaceuticals by 83.9% in the 3rd quarter. GAMMA Investing LLC now owns 664 shares of the company's stock valued at $27,000 after purchasing an additional 303 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth about $29,000. Itau Unibanco Holding S.A. purchased a new position in shares of Ionis Pharmaceuticals during the 2nd quarter worth about $37,000. Mather Group LLC. lifted its holdings in shares of Ionis Pharmaceuticals by 35.8% during the 2nd quarter. Mather Group LLC. now owns 911 shares of the company's stock worth $39,000 after acquiring an additional 240 shares during the period. Finally, Capital Performance Advisors LLP purchased a new position in shares of Ionis Pharmaceuticals during the 3rd quarter worth about $40,000. 93.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Brett P. Monia sold 6,630 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.05, for a total transaction of $252,271.50. Following the transaction, the chief executive officer now directly owns 167,393 shares in the company, valued at $6,369,303.65. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Eric Swayze sold 1,194 shares of the firm's stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $37.92, for a total value of $45,276.48. Following the transaction, the executive vice president now owns 33,713 shares in the company, valued at $1,278,396.96. This trade represents a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 7,877 shares of company stock worth $299,578. 2.71% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

IONS has been the topic of several recent analyst reports. StockNews.com lowered shares of Ionis Pharmaceuticals from a "hold" rating to a "sell" rating in a report on Tuesday, November 12th. Needham & Company LLC reiterated a "buy" rating and set a $60.00 price objective on shares of Ionis Pharmaceuticals in a report on Thursday, November 7th. Guggenheim cut their price objective on shares of Ionis Pharmaceuticals from $70.00 to $65.00 and set a "buy" rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company cut their price objective on shares of Ionis Pharmaceuticals from $82.00 to $77.00 and set an "overweight" rating on the stock in a report on Thursday, November 7th. Finally, Piper Sandler dropped their target price on shares of Ionis Pharmaceuticals from $65.00 to $62.00 and set an "overweight" rating for the company in a research report on Thursday, November 14th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $60.65.

Ionis Pharmaceuticals Stock Up 1.8 %

Shares of Ionis Pharmaceuticals stock traded up $0.63 on Wednesday, hitting $36.44. 231,791 shares of the company's stock traded hands, compared to its average volume of 1,326,102. The stock has a market cap of $5.75 billion, a P/E ratio of -14.68 and a beta of 0.35. The company has a quick ratio of 8.82, a current ratio of 8.91 and a debt-to-equity ratio of 1.86. The firm's 50-day moving average is $37.85 and its 200 day moving average is $42.36. Ionis Pharmaceuticals, Inc. has a 52-week low of $33.33 and a 52-week high of $54.44.

About Ionis Pharmaceuticals

Ionis Pharmaceuticals, Inc discovers and develops RNA-targeted therapeutics in the United States. The company offers SPINRAZA for spinal muscular atrophy (SMA) in pediatric and adult patients; TEGSEDI, an antisense injection for the treatment of polyneuropathy caused by hereditary transthyretin amyloidosis in adults; and WAYLIVRA, an antisense medicine for treatment for familial chylomicronemia syndrome (FCS) and familial partial lipodystrophy.